WASHINGTON – On Wednesday, South Dakota Republican Sen. John Thune, chairman of the Senate Republican Conference and member of the Senate Finance Committee, and Republican Texas Rep. Kevin Brady, chairman of the Joint Economic Committee and a senior member of the House Ways and Means Committee, re-introduced legislation to permanently repeal the federal estate tax, also known as the death tax.
In addition to Thune, among the bill’s 28 co-sponsors in the U.S. Senate is Sen. Richard Shelby, R-Tuscaloosa, who has been a long-time advocate of repealing the tax.
“I have always supported a full repeal of the death tax,” Shelby told Yellowhammer. “Taxpayers should not be subject to an exorbitant tax when they seek to pass their earnings onto their family and loved ones. This is simply unfair.”
The legislation, called the Death Tax Repeal Act of 2013 (S. 1183, H.R. 2429), is “nearly identical” to the bill introduced in the last Congress and garnered the bi-partisan support of 223 members of the House of Representatives and 38 of the Senate.
The bill had won the support of numerous trade and lobbying organization in Washington including American Farm Bureau Federation, Associated Builders and Contractors, National Association of Manufacturers, National Federation of Independent Business, 60 Plus Association, Americans for Tax Reform, Club for Growth, National Black Chamber of Commerce, International Franchise Association, National Taxpayers Union, American Conservative Union and Family Business Coalition.
1. Shelby: the cyber threat is increasing, our adversaries grow bolder and more capable
2. Shelby questions Hagel, Dempsey on Obama defense budget proposal
3. Shelby spokesman downplays potential for LCS cancelation, cites prior efforts
4. EXCLUSIVE: Shelby Discusses His Economic Development Vision for Alabama
What else is going on?
1. PERSONAL BLOG: Does God only help those who help themselves?
2. Baldwin Co. GOP chair will challenge Nodine’s candidacy if he runs in AL01
3. Jim Perdue officially announces candidacy for Secretary of State
4. Clear contrast continues at PSC hearings
5. Terri Sewell applauds Supreme Court ruling against voter ID laws